mgtreview.md
What are the major management functions:
planning, organizing, staffing, coordinating, controlling
What's the difference between committee, group, task force
committee is a group of people appointed for a specific function, larger group
A number of people that are located close together or classed together
What are meant by outputs and inputs
Using subway as an example, the ingredients are inputs and the whole sandwich completed is the output
Line structure / flat structure / matrix structure / multi divisional structure
Line structure are small businesses where the top manager is positioned at the top and has all the power
Flat structure wider span of authority and fewer layers of management
Matrix structure are complex and deal with horizontal management and authority
Multidivisional one parent company that consists of a number of different divisions operating separate businesses
What are contingency plans, strategic plans, tactical plans
Contingency plans are designed to take a possible future event into account
Strategic plans long term or overall aims and interests
Tactical plans carefully planned, more short term
What does HR do
Recruiting, interviewing, and hiring of new employees
What is Capital expenditure
Is an expense where the benefit continues over a long period rather than being exhausted in a short period. An amount spent to acquire or upgrade productive assets